Three Percent Of The Fed's Corporate Bond Holdings Are Junk Rated Tyler Durden Mon, 08/10/2020 - 22:30 It is only appropriate that on the day Ball Corporation sold a bond with the lowest "high" yield ever for a junk bond, at 2.875%... ... that the Fed would publish its latest corporate bond purchase data, in which we find that as of July 31, some 3% of the corporate bonds purchased by the Fed…
The Federal Reserve held $3.6 billion worth of corporate debt at the end of July, but its daily purchases are dwindling since the historic program kicked off in May, according to CreditSights.
Walmart Is Turning Its Parking Lots Into Drive-In Movie Theaters For Its Customers
Tyler Durden
Thu, 08/06/2020 - 20:45
In an announcement that will certainly come as welcome news for the homeless and unemployed already living in their cars in Walmart parking lots, the retailer said yesterday that effective August 14, it is going to be kicking off the "Walmart Drive-in…
It's A Mad, Mad, Mad, Mad Market
Tyler Durden
Tue, 08/04/2020 - 15:40
Authored by Peter Cecchini, Formerly Senior Managing Director, Cantor Fitzgerald via LinkedIn,
Preface
Tyler Fitzgerald (Jim Backus aka Thurston Howell III from Gilligan’s Island): Anybody can fly a plane, now here: I'll check you out. Put your little hands on the wheel there. Now put your feet on the…
Dan Loeb Explains Why He Went Long Amazon, Disney In The Quarter He Returned As CIO
Tyler Durden
Thu, 08/06/2020 - 15:10
There were several notable highlights in the latest Third Point investor letter published today.
The first is that following an ugly first quarter to 2020, Dan Loeb's hedge fund returned 10.8% in its main, Offshore Fund (which however was merely half…
The Open Trap Door Under Real Yields Rings Many Alarms
Tyler Durden
Thu, 08/06/2020 - 11:45
By Laura Cooper, market strategist at Bloomberg
With no imminent end to collapsing real yields - which just hit a new record low -1.10%, the side effects of financial repression warn of stagflation, asset bubbles and policy impotence. Fresh lows for U.S. 10-year real yields this…
Falling Into The Abyss Between Wall Street And Main Street
Tyler Durden
Thu, 08/06/2020 - 13:15
Authored by Charles Hugh Smith via The Daily Reckoning blog,
I know this runs counter to every dominant narrative, but a vaccine doesn’t really matter, opening up doesn’t really matter, and the size of the “free money” stimulus checks doesn’t matter.
What matters is that the…
The Difference Between Good Economics And Bad
Tyler Durden
Wed, 08/05/2020 - 20:05
Submitted by Michael Lebowitz and Jack Scott of Real Investment Advice
The Difference Between Good Economics and Bad
“Real protection means teaching children to manage risks on their own, not shielding them from every hazard.” ― Wendy Mogel, The Blessing of a Skinned Knee
In the five…
Gold, Nasdaq Soar; S&P Just Shy Of All Time High In Mad Dollar-Destruction Dash
Tyler Durden
Wed, 08/05/2020 - 16:03
A body in motion will remain in motion.
These days Newton's first law is as applicable in physics as it is in capital markets, because despite growing concerns about a new wave of covid infections, chaos and confusion over the passage of a new stimulus…
Traders Will Soon Be Able To Buy CLOs & Other Risky Debt Products On Robinhood
Tyler Durden
Mon, 08/03/2020 - 05:30
Esoteric credit products like CDOs and CLOs gained mainstream notoriety ten years ago as politicians, pundits and a deeply humbled Wall Street accused them of helping to nearly destroy the global economy. But a few years ago, banks started looking for new…
Summary The overall TIPS market has had a huge run-up of almost 16% since the bond market turmoil of mid-March. The TIP ETF hit a record high of $126.51 last week, but its one-year performance has been in line with … Continue reading →
Convexity Gives Gold Bulls One More Reason To Buy
Tyler Durden
Fri, 08/07/2020 - 13:15
By Ven Ram, currency and rates strategist for Bloomberg’s Markets Live
Gold already boasts several qualities that enhance its allure: a hedge against inflation, a haven asset, a friend in need. Add one more to the list: convexity.
When real rates decline, gold’s value tends to go up…
Silver Just Had Its Best Month In 40 Years: Here Are July's Best And Worst Performing Assets
Tyler Durden
Mon, 08/03/2020 - 13:22
When looking at the torrid market performance in July, Deutsche Bank's Jim Reid notes that silver (+35%) had its best month since December 1979 while the dollar the worst for a decade. US equities had a good month in spite of rising virus…
It's Now Virtually Impossible To Get A Bank Loan As Lending Standards Soar
Tyler Durden
Mon, 08/03/2020 - 23:05
One quarter ago we pointed out something concerning: shortly after JPMorgan reported that its loan loss provision surged five fold to over $8.2 billion for the first quarter, the biggest quarterly increase since the financial crisis, in preparation for the biggest…
The Pentagon's New UFO Disclosures: 75 Years Of MK Ultra Psy Ops
Tyler Durden
Tue, 08/04/2020 - 00:05
Authored by Matthew Ehret via The Strategic Culture Foundation,
In my last few articles, I have found myself writing on the theme of the emerging new system and the battle between two paradigms (multipolar vs unipolar).
Within that theme, the important issue of psy ops,…